Sick Industrial Companies (Special Provisions) Repeal Act, 2003

Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (1 of 2003) Section 4(b) – Board has registered the reference before the repeal of the Act i.e. on 09.07.2015 - However, as per Section 4(b) of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, any reference made or enquiry pending shall stand abated - The company which had sought reference is entitled to make reference to the National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 within a period of 180 days from the commencement of the Insolvency and Bankruptcy Code, 2016 - The petitioner has not produced any material on the record that any reference under the Insolvency and Bankruptcy Code, 2016 has made a reference to the National Company Law Tribunal - Although, the order under challenge is erroneous, however, in view of the provisions of the Sick Industrial Companies (Special Provisions) Repeal Act, 2003, both the revision petitions have become infructuous. (2018-2) PUNJAB LAW REPORTER